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Are You Selling Your Business?

Business notes are created when a business owner sells a business using owner-financing. It is considerably more difficult to get a bank loan for the purchase of a small business than it is to get a loan for the purchase of a home. Businesses historically have a high failure rate, and often do not have enough collateral to satisfy a bank loan.

Business sellers typically have no option but to offer seller-financing. They often accept a down payment for part of the sale, and a promissory business note for the remainder.

There are times when the seller is satisfied to receive the payments over
a lot of years, but it is often the case that they have requirements for a lump sum payment instead of collecting the payments over a period of time.